07:23 AM EST, 02/13/2025 (MT Newswires) -- European bourses tracked moderately higher midday Thursday, striking fresh all-time highs as traders weighed odds for a ceasefire in Ukraine and digested the earnings season.

Food and tech stocks led gainers while bank and oil issues lagged.

Nestle shares gained 6.3% mid-session after the Swiss food giant reported earnings, and plans to cut costs and boost profits.

US President Donald Trump held a telephone call Wednesday with Russian President Vladimir Putin regarding a peace settlement for Ukraine.

Investors also eyed flat Wall Street futures and choppy closes overnight on Asian exchanges.

In economic news, euro area December industrial production fell 2% on the year and declined a seasonally adjusted 1.1% on the month, reported Eurostat.

The pan-continental Stoxx Europe 600 Index was up 0.7% mid-session, hitting a record high.

The Stoxx Europe 600 Technology Index was up 0.6%, but the Stoxx 600 Banks Index lost 0.8%.

The Stoxx Europe 600 Oil and Gas Index was off 1.3%, but the Stoxx 600 Europe Food and Beverage Index inclined 3.3%.

The REITE, a European REIT index, rose 0.1%, and the Stoxx Europe 600 Retail Index inclined 0.5%.

On the national market indexes, Germany's DAX was up 0.7%, eying a new record high. The resource-heavy FTSE 100 in London was down 0.6%. The CAC 40 in Paris was up 1.5%, and Spain's IBEX 35 gained 0.2%.

Yields on benchmark 10-year German bonds were lower, near 2.45%.

Front-month North Sea Brent crude-oil futures were down 1.2% to $74.26 per barrel.

The Euro Stoxx 50 volatility index was up 0.5% to 16.41, indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.